A new act took effect on 1 January 2019 that introduces an insurance tax of 8% covering non-life insurance for insurance risks located in Slovakia. Compared to the original proposal, the new insurance tax will not apply to life insurance. The insurance tax is considered an indirect tax and will be paid by insurers that…
The Ministry of Finance of the Slovak Republic issued an official measure defining the template personal and corporate income tax return forms for the 2018 tax year.
The current templates of the tax return forms are intended for taxpayers filing tax returns by the last day of 31 December 2018 as the final day for filing these tax returns.
Slovakia ratified the OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, sometimes abbreviated as BEPS, intended to combat tax base erosion and profit shifting under individual double taxation treaties. The Multilateral Convention is intended to amend all double taxation treaties concluded by Slovakia and enters into force…
The minimum wage increases from €480 to €520 effective 1 January 2019. The defined €520 minimum wage is a gross monthly minimum wage. After deducting 19% for income tax and statutory deductions for health insurance and to Social Insurance, the net monthly salary is approximately €430.
The amended Income Tax Act approved by the MPs in the Slovak Parliament will increase, specifically double, the tax bonus for children up to the age of 6 as of April 2019. The tax bonus represents a tax benefit provided to taxpayers with dependent children living with the taxpayer in the same household in the…
On 24 September 2018, the French Government presented the Finance Bill draft for the year 2019. This draft will be discussed by the French Parliament over the next few weeks and may be subject to changes; the final version will be enacted before end of year, 2018. Interest deduction limitation rules Article 13 of the…
The new EU directive known as ATAD (Anti-Tax Avoidance Directive) ensures that tax is paid where profits and values are generated. It lays down binding measures that the Slovak Republic must implement in order to prevent aggressive tax planning. In addition, the aim of this Directive is to facilitate the exchange of information between Financial…
The European Anti Tax Avoidance Directive (ATAD) was issued in 2016. It tackles some of the Action Points which were included in the OECD’s BEPS (Base Erosion and Profit Shifting) Action Plan. Generally, Member States shall implement the ATAD until 01 January 2019. A further development is ATAD II, which was issued in 2017 and…
In recent years (perhaps decades), tax law as a specific, and it must be added fiscally very important, part of public law, has been experiencing strong legislative pressure from the outside. This is mainly at the initiative of EU or OECD institutions, whose efforts are determining the direction of tax systems not only in the…
We would like to let you know about the consequences of the recent amendment of Act No. 530/2003 on the Commercial Register and on amendment of certain acts entering into force on 1 November 2018 which requires the following be entered into the Commercial Register (i) the identification details of the beneficial owner of a legal entity, which…